Zions Bancorporation N.A. Boosts Stake in Sempra (NYSE:SRE)

Zions Bancorporation N.A. increased its holdings in Sempra (NYSE:SRE) by 23.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,972 shares of the utilities provider’s stock after acquiring an additional 1,687 shares during the quarter. Zions Bancorporation N.A.’s holdings in Sempra were worth $750,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Magnetar Financial LLC acquired a new stake in shares of Sempra in the 1st quarter valued at about $2,293,000. Dai ichi Life Insurance Company Ltd lifted its holdings in Sempra by 319.5% during the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 196,954 shares of the utilities provider’s stock worth $14,980,000 after buying an additional 150,000 shares during the last quarter. Intech Investment Management LLC grew its position in shares of Sempra by 40.8% in the 1st quarter. Intech Investment Management LLC now owns 43,050 shares of the utilities provider’s stock worth $3,092,000 after acquiring an additional 12,468 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Sempra by 10.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 135,621 shares of the utilities provider’s stock valued at $10,315,000 after acquiring an additional 12,346 shares during the last quarter. Finally, CreativeOne Wealth LLC raised its position in shares of Sempra by 171.6% during the 1st quarter. CreativeOne Wealth LLC now owns 10,477 shares of the utilities provider’s stock valued at $753,000 after acquiring an additional 6,620 shares in the last quarter. Hedge funds and other institutional investors own 89.65% of the company’s stock.

Sempra Price Performance

NYSE:SRE opened at $92.19 on Friday. Sempra has a 52-week low of $66.40 and a 52-week high of $93.12. The company has a quick ratio of 0.47, a current ratio of 0.52 and a debt-to-equity ratio of 0.89. The business’s 50-day moving average price is $84.31 and its 200 day moving average price is $79.77. The firm has a market cap of $58.39 billion, a P/E ratio of 20.31, a PEG ratio of 2.53 and a beta of 0.75.

Sempra (NYSE:SRE) last announced its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.16). The company had revenue of $2.78 billion for the quarter, compared to analyst estimates of $3.54 billion. Sempra had a net margin of 22.63% and a return on equity of 8.06%. Sempra’s revenue was down 16.7% on a year-over-year basis. During the same quarter last year, the company posted $1.08 EPS. As a group, sell-side analysts predict that Sempra will post 4.77 earnings per share for the current fiscal year.

Sempra Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.69%. The ex-dividend date is Thursday, December 5th. Sempra’s dividend payout ratio (DPR) is currently 54.63%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Sempra from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Jefferies Financial Group started coverage on shares of Sempra in a report on Thursday, October 24th. They issued a “buy” rating and a $98.00 price target for the company. Evercore ISI raised their target price on shares of Sempra from $84.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Barclays upped their target price on Sempra from $87.00 to $89.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Finally, BMO Capital Markets raised their price target on Sempra from $93.00 to $96.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.00.

Sempra Profile

Sempra operates as an energy infrastructure company in the United States and internationally. It operates through three segments: Sempra California, Sempra Texas Utilities, and Sempra Infrastructure. The Sempra California segment provides electric services; and natural gas services to San Diego County.